Author: Travis Bouche
June 01, 2020
With the 2020 Presidential election approaching later this fall, this article highlights what may happen to the cannabis industry federally depending on whether Joe Biden or Donald Trump gets elected. Although both candidates share different views on issues such as immigration, climate policy, trade, Social Security, neither Biden nor Trump have any intention of legalizing marijuana. Regardless of 66% of Americans being in favor of legalizing cannabis, neither candidate is likely to support legalization.
However, the cannabis industry may experience changes depending on who wins the November election. This is why it is extremely important for cannabis enthusiasts to be aware of each candidate’s stance on cannabis. Biden has mentioned in past debates the idea of decriminalizing cannabis at the federal level. This would be a huge step moving the needle forward, since typically legalizing cannabis on a state level starts with decriminalizing cannabis, permitting medical-use cannabis, and lastly allowing adult recreational use. Moreover, the federal legalization of cannabis will grant banks and credit unions the ability to assist cannabis-based businesses.
Conversely, if Donald Trump were to get reelected to a second term, things will more than likely remain the same on a federal level. This would be disheartening because cannabis has proven to help the economy of the states that have legalized it. It is our duty to hit the polls this November and break the prevalent stigma against cannabis, especially during a time where we are approaching a recession due to the COVID-19 pandemic outbreak.
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